Thriving In Smaller Markets
The coworking industry is rapidly growing as more people search for a place where they can work without having to work from home, in a coffee shop, or shell out rent on an office space. Coworking spaces have numerous benefits for members, such as a lack of distractions, improved productivity, socialization, networking, flexibility and amenities like free coffee. If you've chosen to open a coworking space, one of the most important decisions is naming it, since this will be first impression you make upon potential clients.
You can gain clear insight into what names work well in the world of coworking spaces by taking a closer look at some of the existing companies and the features they chose to highlight in their names. Several top companies use strong word choice to their advantage: WeWork, Galvanize, Impact Hub, NextSpace, Proximity Space, Serendipity Labs, TechSpace and The Yard.
Looking at these names and those of smaller coworking spaces in single cities, it's common to include words like “work,” “space,” “hub” and “lab.” These words are linked to productivity and business, giving potential members the impression that they will get work done in your space.
Some companies include words that set themselves apart from the pack. TechSpace, for example, emphasizes its technological credentials. The Yard, too, differentiates itself by conjuring a sense of community, like the socialization you'd get by hanging out in your yard and interacting with the neighbors.
When choosing the name of your coworking space, you should start by figuring out the overall direction you want your members go in terms of their productivity and accomplishments as professionals. What you want people to know about the space based on your name? Do you want to give off the impression of being fun, or do you prefer a high-scale feel? Maybe you're opening a wellness-focused space like Work Well Win, or perhaps a more general business environment like WeWork. If your coworking space will target a specific type of member, such as those in filmmaking, photography, tech, or writing, include something in the name to indicate this.
It may help to create a vision board (a fancy term for putting pictures on the wall) and brainstorming the vibe you want to convey in your space. Having concrete images will highlight your emotional reaction to certain words and phrases that will spark your imagination. Word associate is also a great way to get ideas flowing to define the voice and style of your brand.
Of course, your coworking space’s name should also follow the other general rules that any business needs. Pick something different from your competitors and something that has SEO potential, but is still easy to pronounce. Make sure your chosen name doesn’t have any potential copyright infringements to avoid litigation down the line. Finally, confirm that you can purchase an internet domain and obtain accounts across social media platforms with the name before making the choice official.
Save your community manager 41 hours each week—learn how The Yard did it with cloud-based access control.Read the Case Study